Tag: Cincinnati

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Development News

First Designs Revealed For What Tiny Living Could Look Like in Over-the-Rhine

Peete Street Rendering [Provided]

Brad Cooper unveiled his first designs for two 250-square-foot homes that will be built on the northern edge of Over-the-Rhine later this year.

After showcasing the designs and explaining the process to prospective home-buyers last night, Cooper now says that he hopes to keep moving the project forward so that they can be built by the end of the year, and welcome their tenants by 2016.

The homes are admittedly not for everyone. Instead of focusing on standard sizes and layouts, Cooper has instead focused on a minimalist approach that requires creativity and an open mind to make it work. But if recent trends in tiny living are any indicator, he might be on to something locally.

“You can still live large in a small space, but the homeowner’s lifestyle needs to align with the ethos of tiny living,” says Cooper.

The two initial lots that Cooper is looking to build on are located on Peete Street, where most of the northern side of the street has sat vacant for many years. The lots are small and have a steep slope near the rear, making them nearly impossible to develop according to traditional building practices.

The site layouts, which are still being refined as part of the ongoing design process, leave room for outdoor living space, as well as an adjacent, off-street spot to park a car.

Cooper, who is a professionally trained architect, is being partially driven to develop such a concept due to his belief that affordable housing can be for everyone, but that it begins with a quality upfront investment.

The goal is to sell both of the homes, which are priced at $70,000, by the end of summer or early fall, then to break ground shortly thereafter. For that price, Cooper says that the home-buyer would get most things that are expected in any home, but have options to include a full-size refrigerator, dish washer, washer/dryer, and built-in furniture.

Each of the homes will also come equip with solar panels at the rear of the lot.

At the $70,000 price point, Cooper says that someone making just $10 an hour working 40 hours a week could afford to buy one of the homes. Using standard financing benchmarks, he estimates that someone of that background could finance the home for approximately $500 a month after making a $2,000 down payment.

To help first-time home-buyers through the process, Cooper has partnered with Working in Neighborhoods so that they can get the information they need before moving forward.

Should such an endeavor be successful, it could prove to be a scalable model that the city could use to develop small, difficult lots that have long sat vacant. Most of these locations are located in or very near the center city, so it also gives people an affordable option for buying close to the core.

“You’re not just buying a tiny home, you’re purchasing a stake in one of the most remarkable historic districts in the country,” Cooper noted.

Interested home-buyers are required to attend one of the planned outreach sessions, like the one held last night. While the dates and locations for those have yet to be released, those who are interested can receive updates by signing up at StartSmallHomes.com.

The effort is being funded, in part, through a $100,000 Haile Fellowship at People’s Liberty.

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Business News

Regional Economic Hopes and Concerns Shifting As Cities Recover From Great Recession

According to the Federal Reserve Bank of Cleveland’s annual survey of its district, jobs and the economy overall continue to remain the top concern for local leaders.

Each year, seeking to gauge ground-level concerns and needs, the Federal Reserve Bank of Cleveland – which includes all of Ohio, Eastern Kentucky, Western Pennsylvania, and the West Virginia Panhandle – conducts a survey of community leaders to assess local challenges around the Fourth District.

In their 2015 survey, jobs remained the number one concern and priority for local leaders throughout region. Skyrocketing to the second place position was a preoccupation with access to quality and affordable housing; while vacant and abandoned properties were third.

While public officials acknowledge that jobs are indeed being created, the concern is about the type of job creation that is occurring in their communities. Part-time jobs, low wages, lack of benefits, and high turnover mean that being able to support a family is out of reach for many of those working in these newly created positions.

There is also growing concern about continued vacancy in high-wage, high-skilled positions where a skills gap is keeping many of those looking for work from filling these positions.

New in this report is the growing concern over affordable housing. While low-wage and part-time jobs continues to grow, new housing options are limited and those that are being developed are often either at the high or low end of the market. Economists at the Federal Reserve Bank of Cleveland say this is the first time the issue has registered as a top concern.

Continued in-migration to central cities, like what is being experienced in Cincinnati, is exasperating this problem throughout the Fourth District. Of course, this in-migration is seen by many as a net positive, even though the housing market has yet to catch up.

“The remarkable resurgence happening in core neighborhoods will have a very positive effect on those neighborhoods, and on the City of Cincinnati overall,” explained a professor at the University of Cincinnati in response to this survey.

A social services organization CEO in Pittsburgh also sees increasing migration to urban centers positively, but worries about the possibility of rising property driving historic residents from their neighborhoods. The concern over affordable housing is, as the Cleveland Fed puts it, “respondents grappling with the good and bad elements of revitalization occurring in their urban centers.”

While less relevant in the Cincinnati region, the Fourth District’s shale gas boom has also caused affordable housing problems in parts of West Virginia and Western Pennsylvania, as oil workers move in and are able to pay more in rent than other, longer-term residents.

Although the economic recovery is in full swing and most cities are seeing migration to their urban centers, many neighborhoods are still suffering from blight and disinvestment. According to the survey, abandoned properties were the third most-cited concern among respondents. Many cities in the region, particularly those in northern Ohio, are still saddled with significant amounts of abandoned and vacant properties, many of which left over from the housing crisis.

These properties not only require tax revenue to maintain and produce no tax revenues in return, but they are also most typically found in low-income, minority neighborhoods, exasperating already-difficult economic conditions for many of these communities.

At the end of the survey, the Cleveland Fed attempted to gauge emerging issues, both positive and negative. The biggest negative issue cited by almost all respondents was how to deal with an aging infrastructure that needs to be replaced. Budget cuts at all levels of government have lead to increased deferral of basic maintenance and improvements, especially in older municipalities that dominate the Fourth District.

While on the positive side, most respondents cited the continued migration of residents to the inner-city as having the most potential to positively impact economic recovery throughout the region.

Respondents also specifically mentioned the activation of the National Housing Trust Fund, which will provide federal support to help areas construct, preserve, and rehabilitate buildings for affordable housing. The National Low Income Housing Coalition predicts that Ohio and Pennsylvania will be some of the largest recipients of these funds, and thus have the most to gain or lose by its status.

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Development News

Start Small, Live Large Event to Engage Homebuyers Interested in Tiny Living

In December we announced that one of our writers had won one of prestigious Haile fellowships at People’s Liberty. As part of that, Brad Cooper would receive $100,000 to quit his job and spend the next year developing a concept for affordable, tiny living in Over-the-Rhine.

Over the past five months Cooper has been developing his design, based on community and professional feedback; and he is now ready to present his initial designs at an event he’s hosting Wednesday evening at the Over-the-Rhine Recreation Center.

The event, called Start Small, Live Large, will showcase Cooper’s design concepts thus far, while also presenting additional information for those interested in purchasing one of the two 250-square-foot homes he plans to initially develop. In fact, this is actually the first of a series of events that interested homebuyers will be required to attend in order to eventually purchase one of the homes.

Cooper says that only those interested in eventually buying one of the homes should attend the event. He also notes that those potential homebuyers will need to attend only one of the events as part of this series.

To help these prospective investors better understand the process, Start Small, Live Large will feature a “Homebuyer 101” presentation from Working in Neighborhoods, with a question and answer period to follow.

The event will take place from 6pm to 7:30pm at the Over-the-Rhine Recreation Center at 1715 Republic Street. Light refreshments will be provided.

Categories
Development News

AC Hotels by Marriott to Partner With Eagle Realty on $35 Million, 165-Room Location at The Banks

Rendering of the planned 165-room AC Hotel at The Banks [Provided]

After several years of trying to attract a hotel to The Banks, the project has landed a brand that is sure to attract the fastest growing customer segment in the industry – millennials.

In a special meeting before the Joint Banks Steering Committee, Eagle Realty Group development affiliate Main Hospitality Holdings and Blue Ash-based hotel operator Winegardner & Hammons announced plans to build a seven-story, 165-room AC Hotels by Marriott on the southwest corner of Freedom Way and Joe Nuxhall Way, directly across from Great American Ball Park.

The news was broken was UrbanCincy last month and comes one year after the brand backed out of a deal to redevelop the former School for Creative and Performing Arts in Pendleton.

Known for its upscale, contemporary European influences, the brand began as a joint venture between Marriott International and leading European hotel developer Antonio Catalán in 2011. The brand officially launched in the North American market in 2013 and now boasts locations in Chicago, Kansas City, Miami Beach, New Orleans, and Washington, DC, making it the fastest launch of a Marriott brand in history.

“We’ve wanted this brand for over five years,” explained Mike Conway, president and CEO of Winegardner & Hammons, with regard to why the third largest hotelier in the world wants to grow in the Cincinnati marketplace. “We think it’s a…absolutely home run in Cincinnati. The reason why we say that is people are moving back to the urban core; and our city, like all major cities across the country, is experiencing a revitalization of downtown.”

Adding to Conway’s enthusiasm was Cincinnati Reds president and CEO, and committee chairman, Bob Castellini.

“The Banks offers up perhaps the best location for a hotel in the city,” Castellini noted. “It took us a while to find and secure the best possible flag and developer for the hotel at The Banks, and I really believe that we have the best possible flag and developer.”

The designs show an L-shaped structure, with the main building height fronting on Joe Nuxhall Way and a smaller, one- to two-story portion to the building’s south.

Along Joe Nuxhall Way, the building will include the front desk and guest rooms – expected to have a $180 per night average rate – and will be capped with a rooftop terrace bar and deck overlooking the Ohio River. It will also include a water feature and a four-story animated LED video board.

The shorter southern portion, made necessary due to height restrictions, will include a lounge, library, fitness facility, conference rooms, and a courtyard overlooking Smale Riverfront Park.

The project team will present the plans to the Urban Design Review Board on Thursday. If all goes according to plan, construction could begin in August and be completed by spring 2017.

The development is expected to cost approximately $35 million, with the equity and debt financing already in place. But the best part, steering committee member Tom Gabelman said, was that it will require no city or county subsidies.

“That’s rather phenomenal in this environment,” he said. “And it’s rather phenomenal, too, that we basically have the quality of hotel that the city and county desired for this premier location.”

Meanwhile, construction continues on Phase 2 of The Banks, most notably on a 339,000-square-foot office building for General Electric that is expected to employ between 1,800 and 2,000 workers when completed in late 2016. Next door, a building featuring 291 apartments and 20,000 square feet of retail space is slated for completion next spring.

Project officials provided some additional details on the infrastructure buildout for Phase 3, which will be paid for with revenues produced by prior phases. This infrastructure work is critical to lift the development out of the Ohio River floodplain, and must be completed before any private real estate development can begin.

Leadership also said that there is a desire to diversify the retail environment along the central riverfront, and further add to the “live, work, play” mantra driving the development.

“I want to add another word there pretty soon, because we hope to have there not just a hotel, but a grocery store and some other retail opportunities so it will be a great place to live, work, shop and play,” said Castellini, who also explained how he used to have to walk down to the river at 4am to make sure it was below 52 feet so that he could open his produce business.

Much has changed along the northern banks of the Ohio River since the days of Castellini’s produce business, and much more will change over the coming years. Project officials say that they will bring a detailed plan for the next round of work to City Council within the next one to two months.

Categories
News Transportation

All Aboard Ohio Celebrates Recent Successes, Future Plans at Recent Meeting

Bicyclists ride along recently completed streetcar tracks on 12th Street [Travis Estell]

Last Tuesday, All Aboard Ohio held their Spring meeting at the newly-opened Taft Ale House in Over-the-Rhine.

President of the Southwest chapter, Derek Bauman, ran the meeting, which not only included discussion of advocacy for interstate passenger rail in Cincinnati, but also of the ongoing construction of the Cincinnati Streetcar.

Several community leaders and representatives were present, including Streetcar Project Manager John Deatrick, Metro’s Rail Operations Manager Paul Grether from Metro, the chief of staff for Councilman Kevin Flynn, a representative from the Cincinnati Preservation Society, the president of Queen City Bike, and even Cincinnati Union Terminal’s Amtrak station manager.

To begin the meeting, Deatrick and Grether talked about the construction of the streetcar system, which can be seen directly outside of Taft’s Ale House, and the future operation of it. Deatrick informed the crowd that almost 70% of the construction is complete, which is ahead of schedule, and the city expects the first streetcar delivery by September.

When asked to address the ongoing discussion about the next phase to Uptown, Deatrick declined to comment.

Grether then explained how his organization acts as the conduit for federal funds to the streetcar and will be the future operator of the system. He also discussed Metro’s plans to schedule the streetcar in a manner that complements and fully integrates with Metro’s bus operations, and those of TANK.

Another key point that Grether mentioned is that the technology is in place to be able to give streetcars signal priority, should leaders at City Hall decide that is desirable. Such a move would quite significantly improve travel times and performance.

As the conversation moved on, Bauman spoke about the group’s efforts to establish daily passenger rail service between Cincinnati and Chicago. Not having daily rail service to Chicago damages business competitiveness for the city, Baumann said, considering that Milwaukee, St. Louis, Detroit and Indianapolis already currently boast such service.

The effort has received renewed interest as of late due to the debate surrounding the future of the Hoosier State line, which connects Chicago to Indianapolis. Project proponents scored a big win recently when funding was picked up by the State of Indiana to continue its service. Those efforts even attracted the attention of Senator Joe Donnelly (D-IN) in a letter he penned to the Federal Railroad Administration about the possibility of future extensions of the line.

Since assuming the presidency of the local chapter, Bauman has made a variety of changes to allow for greater participation and engagement. Meetings are no longer confined to members, for example, and they have begun reaching out to the business community and area universities.

Bauman said that he hopes this approach will help make daily passenger rail service a reality for the Cincinnati region at some point in the near future.

Those that are interested in supporting the efforts of All Aboard Ohio can do so by making a tax-deductible donation to the organization on Tuesday, May 12. On this day the Columbus Foundation will make matching donations to a collection of non-profits throughout the state, including All Aboard Ohio. You can make secure donations to the group on their website.